NRS 573.033
Details and amount of bond

  • liability of surety.

1.

Except as otherwise provided in NRS 573.025, if an applicant delivers a surety bond to the Director pursuant to the provisions of NRS 573.025 or subsection 1 of NRS 573.030, the surety bond must be:

(a)

In the amount of $200,000 or the amount of bond coverage calculated for a market agency pursuant to 9 C.F.R. § 201.30(a), whichever is greater.

(b)

Executed by the applicant as principal and by a surety company qualified and authorized to do business in this state as surety.

(c)

A standard form and approved by the Director as to terms and conditions.

(d)

Conditioned that the principal will not commit any fraudulent act and will comply with the provisions of this chapter and the rules and regulations adopted by the Department.

(e)

To the State of Nevada in favor of every consignor creditor whose livestock was handled or sold through or at the licensee’s public livestock auction or annual sale of livestock, as applicable.

2.

The total and aggregate liability of the surety for all claims upon the bond must be limited to the face amount of the bond.

Source: Section 573.033 — Details and amount of bond; liability of surety., https://www.­leg.­state.­nv.­us/NRS/NRS-573.­html#NRS573Sec033.

573.010
Definitions. 573.015
Declaration of policy. 573.020
Holding of public livestock auction without license prohibited 573.025
Limited license to conduct annual sale of livestock. 573.030
Bond required for issuance of license or limited license 573.033
Details and amount of bond 573.035
Bond of market agency. 573.037
Deposit in lieu of bond: Amount 573.040
Fee for license or limited license. 573.050
Issuance of license. 573.060
Separate license required for each establishment or premises. 573.070
Form of license. 573.080
Renewal of license. 573.090
Display of license. 573.100
Denial, suspension or revocation of license 573.103
Audits of accounts 573.104
Custodial accounts for consignors’ proceeds 573.105
Line of credit: Duty to notify Department of change in amount or replacement 573.106
Payment of net proceeds of sales to consignors. 573.107
Actions by consignor creditor or Director on bond. 573.108
Duties of Director when licensee fails to pay consignor creditor 573.109
District court’s power to compel attendance of witnesses and production of books and papers 573.110
Records to be maintained by licensee: Contents 573.120
Records to be maintained by person buying or receiving livestock for slaughter on consignment or for commission or fee: Contents 573.125
Issuance of receipts to purchasers. 573.130
Regulation of sales of livestock under quarantine or infected or exposed to contagious, infectious or parasitic livestock disease 573.140
Cleaning and maintenance of premises 573.150
Inspection and testing of scales. 573.160
Inspection of premises and records by Department. 573.165
Approved space and facilities to be provided for brand inspection. 573.170
Change of sale days: Procedure 573.175
Security agreements not impaired. 573.180
Exemption from provisions of chapter for nonprofit organizations and associations. 573.183
Cease and desist orders. 573.185
Injunctions 573.190
Penalties
Last Updated

Jun. 24, 2021

§ 573.033’s source at nv​.us